By the end of 2012, Cipher will be collecting revenues from three approved products in the U.S., with a growing cash balance of over $14-million in the bank, no debt, and generating positive cash flow.

Mr. Napodano said approval of Absorica is “transformational” for Cipher and represents the clear opportunity to in-license yet another 505(b)(2)-like product for late-stage development and commercialization in 2013.

“Cipher is now three-for-three,” he said. “It’s time for U.S. investors to take notice. This is a stock to own.”